Hailing “a red-hot economy” that “continues to sizzle,” economist Steve Moore set extremely high expectations for the Quarterly growth and it more than 2X’d as expected.
This week we got the blockbuster number on GDP growth at 33.1%
“The previous record in the last 75 yrs was 1952 when we had a Quarter or 2 of 15%. This growth rate for the 3rd quarter, that’s July through the end of September, will be twice the previous record in terms of GDP.”
Setting those kind of expectations are noteworthy in the final wk of this campaign, because setting those lofty goals and not reaching them would hit President Trump’s economic narrative just before the 3 November election.
Further, The Trump Administration has “knocked 15 million people” off of unemployment, a group size that equates to about 2X the New York metro area.
“The economy is doing well,” despite global coronavirus chaos restrictions stifling the true potential of The Trump Economy. “Real estate is doing well. Housing is doing well. Consumers are spending again. We are seeing retail come back. The only part of the economy right now that worries me is that travel is still very weak, and recreation and leisure.
“Technology is just shooting the Moon.”
Now is a bad time to vote Donald Trump out of the White House.
“We do not want to change our pilot now,” Mr. Moore said.
“I believe this is the best recovery we have ever seen from a recession in the history of the United States.”
Have a healthy weekend, Keep the Faith!